World's largest cryptocurrency Bitcoin was trading over 4% higher today. The price of Bitcoin rose 4.78% to $51,049 on Coinmarketcap. Market cap of the cryptocurrency rose to $963.40 billion.
Bitcoin went for a free fall on Saturday, plunging over 20% to $41,967 as a combination of profit-taking and macro-economic concerns triggered nearly a billion dollars worth of selling across cryptocurrencies.
Currently, the global crypto market cap stands at $2.37 trillion, a rise of 5.17%. Other cryptocurrencies were also trading in the green today.
Ethereum rose 5.50% to $4,360 and Dogecoin was trading 7.08% higher at $0.1,797. Digital token Stellar gained 8.18% to $0.2957 and Litecoin climbed 5.37% to $159.80.
XRP rose 6.14% to $0.8372 and Uniswap gained 6% to $17.07.
Of late, crypto prices have risen on the back of comments from billionaire Elon Musk and Ark Investment Management LLC's Cathie Wood.
In late July, Elon Musk said Tesla was "most likely" to start accepting bitcoin as payment again. The comment helped the cryptocurrency race past the $30,000 level. The electric carmaker said in May that it would no longer accept the cryptocurrency for purchases. It's been a wild ride for bitcoin the last three years.The digital currency made its big Wall Street debut in December 2017, when the major futures exchanges rolled out Bitcoin futures. The attention drove Bitcoin to roughly $19,300, a then-unheard of price for the currency.
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